string(13) "markets-macro"

Macro

December 17, 2024

Econ officials explain the 2025 policy gameplan

In a Monday Q&A, officials from the general office of the Central Commission for Financial and Economic Affairs (CCFEA) offered additional specifics on the recently concluded Central Economic Work Conference (CEWC). Some context: The CCFEA is the Party’s top economic policymaking body. Its gener… Username Password Remember Me Forgot Password

In a Monday Q&A, officials from the general office of the Central Commission for Financial and Economic Affairs (CCFEA) offered additional specifics on the recently concluded Central Economic Work Conference (CEWC).
Some context: The CCFEA is the Party's top economic policymaking body. Its gener...

sources

Xinhua: 中央经济工作会议解读｜中央财办有关负责同志深入解读2024年中央经济工作会议精神

December 17, 2024

On Our Radar | Prepping for 2025

The most important upcoming developments for policy and politics in China over the next month key developments foreign affairs Trump’s first day in office (January 20) econ and finance Announcement of the preliminary SPB quota (December to mid-January) tech National Science and Technology Work …

The most important upcoming developments for policy and politics in China over the next month
key developments
foreign affairs

Trump’s first day in office (January 20)

econ and finance

Announcement of the preliminary SPB quota (December to mid-January)

tech

National Science and Technology Work ...

December 17, 2024

TikTok makes a Hail Mary pass

On Monday, TikTok CEO Shou Zichew met with Donald Trump at Mar-a-lago. The topic of discussion wasn’t made public – but we imagine the impending TikTok ban was at the top of the agenda. ICYMI: In April, Congress passed a law mandating that TikTok must divest its US business or be banned in the U…

On Monday, TikTok CEO Shou Zichew met with Donald Trump at Mar-a-lago.

The topic of discussion wasn't made public – but we imagine the impending TikTok ban was at the top of the agenda.

ICYMI: In April, Congress passed a law mandating that TikTok must divest its US business or be banned in the U...

sources

CNN: Federal appeals court declines to temporarily block ban on TikTok, teeing up showdown at SCOTUS over controversial law

December 17, 2024

MIIT to level-up SME digitization

Digitized manufacturing supply chains must include companies of all sizes. On Thursday, the industrial ministry (MIIT) announced a two-year SME-focused digitalization plan. The goals are big: By 2027, policymakers want to see 75% of “key processes” at industrial SMEs fully computer controlled and 40…

Digitized manufacturing supply chains must include companies of all sizes.
On Thursday, the industrial ministry (MIIT) announced a two-year SME-focused digitalization plan.
The goals are big: By 2027, policymakers want to see 75% of “key processes” at industrial SMEs fully computer controlled and 40...

sources

Gov.cn: 工业和信息化部财政部中国人民银行金融监管总局关于发布《中小企业数字化赋能专项行动方案（2025—2027年）》的通知

Gov.cn: 工业和信息化部办公厅关于印发《中小企业数字化赋能专项行动方案》的通知

December 17, 2024

US and China renew sci-tech agreement

After 16 months of delay, the US and China finally re-signed the bilateral Science and Technology Agreement (STA) on Friday. Some context: The STA was the first major agreement between China and the US, inked weeks after diplomatic normalization in 1979. It sets terms for government-level research …

After 16 months of delay, the US and China finally re-signed the bilateral Science and Technology Agreement (STA) on Friday.
Some context: The STA was the first major agreement between China and the US, inked weeks after diplomatic normalization in 1979.

It sets terms for government-level research ...

sources

Caixin: 中美科技合作协定几经谈判终续签延续两国科研合作动能何在

December 17, 2024

State Council rushes Private Economy Promotion Law through legislature

Officials are fast-tracking the Private Economy Promotion Law. On Friday, the legislature’s (NPCSC) chairman, Zhao Leji, presided over a meeting of the NPCSC’s Council of Chairpersons, finalizing the date and agenda for the next NPCSC session. The session will take place from December 21 to 25. Ke…

Officials are fast-tracking the Private Economy Promotion Law.
On Friday, the legislature's (NPCSC) chairman, Zhao Leji, presided over a meeting of the NPCSC’s Council of Chairpersons, finalizing the date and agenda for the next NPCSC session.

The session will take place from December 21 to 25.

Ke...

sources

NPC: 赵乐际主持召开十四届全国人大常委会第三十五次委员长会议决定十四届全国人大常委会第十三次会议12月21日至25日在京举行

December 16, 2024

CEWC highlights need to advance green and low-carbon transition

The Central Economic Work Conference (CEWC), which concluded on Thursday, underscored the pressing need to advance China’s green and low-carbon transition. The meeting readout stressed the importance of: “Promoting coordinated carbon emission reduction, pollution reduction, and green growth” “Accel…

“Promoting coordinated carbon emission reduction, pollution reduction, and green growth”
“Accel...

sources

Xinhua: 中央经济工作会议在北京举行习近平发表重要讲话

December 16, 2024

China warns France against trade war

Trade wars are neither good nor easy to win. That’s what top diplomat Wang Yi told French presidential diplomatic advisor Emmanuel Bonne, who was in Beijing on Saturday for the 26th China-France Strategic Dialogue. Some context: France has been a vocal advocate for reducing Europe’s economic overrel…

Trade wars are neither good nor easy to win.
That’s what top diplomat Wang Yi told French presidential diplomatic advisor Emmanuel Bonne, who was in Beijing on Saturday for the 26th China-France Strategic Dialogue.
Some context: France has been a vocal advocate for reducing Europe’s economic overrel...

sources

MoFA: 中法战略对话在北京举行

December 16, 2024

Credit continues to drag in November

Credit growth disappointed again in November. According to the central bank’s (PBoC) monthly credit data released on Friday, outstanding total social financing (TSF) grew 7.8% y/y last month, unchanged from 7.8% in October. Outstanding RMB loans grew 7.7% y/y, down from 8.0% in October. ICYDK: Thi…

Credit growth disappointed again in November.
According to the central bank’s (PBoC) monthly credit data released on Friday, outstanding total social financing (TSF) grew 7.8% y/y last month, unchanged from 7.8% in October.

Outstanding RMB loans grew 7.7% y/y, down from 8.0% in October.

ICYDK: Thi...

sources

PBoC: 2024年11月社会融资规模存量统计数据报告

PBoC: 2024年11月社会融资规模增量统计数据报告

December 16, 2024

CEWC shifts focus to agricultural competitiveness

This year’s Central Economic Work Conference (CEWC), held last week, adopted a more measured tone on food security. The CEWC readout didn’t explicitly mention food security, but committed officials to “ensuring the stable supply of grain and other key agricultural products,” among a short list of ru…

This year's Central Economic Work Conference (CEWC), held last week, adopted a more measured tone on food security.
The CEWC readout didn't explicitly mention food security, but committed officials to “ensuring the stable supply of grain and other key agricultural products,” among a short list of ru...

sources

Xinhua: 中央经济工作会议在北京举行习近平发表重要讲话

Xinhua: 完善粮食价格形成机制

December 16, 2024

November macro data disappoints

Optimism over China’s economy has proven premature. On Monday, the statistics bureau (NBS) released economic data for November, and it paints a pretty disappointing picture. The headlines: Fixed asset investment (FAI) grew 2.4% y/y, down from 3.4% October. Industrial value-added (IVA) grew 5.4% y/y…

Optimism over China’s economy has proven premature.
On Monday, the statistics bureau (NBS) released economic data for November, and it paints a pretty disappointing picture.
The headlines:

Fixed asset investment (FAI) grew 2.4% y/y, down from 3.4% October.
Industrial value-added (IVA) grew 5.4% y/y...

sources

NBS: 2024年1—11月份全国固定资产投资增长3.3%

NBS: 2024年11月份规模以上工业增加值增长5.4%

NBS: 11月份国民经济稳步回升

December 14, 2024

The newest strategy for tackling the manufacturing talent shortage

Policymakers are trying every angle to invigorate China’s advanced manufacturing talent pool. On Thursday, five regulators released high-level policy guidance on strengthening human resources for manufacturing. Some context: China’s shortage of skilled factory labor threatens its advanced manufactur…

Policymakers are trying every angle to invigorate China’s advanced manufacturing talent pool.
On Thursday, five regulators released high-level policy guidance on strengthening human resources for manufacturing.
Some context: China’s shortage of skilled factory labor threatens its advanced manufactur...

sources

Gov.cn: 人力资源社会保障部国家发展改革委工业和信息化部商务部全国工商联关于加强人力资源服务助力制造业高质量发展的意见

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